DUBAI – The government of the United Arab Emirates is exploring the option of introducing long-term business licenses, including 10-year golden licenses and five-year silver licenses.
The measures aim to increase government revenues, stimulate business activities, and enhance the emirate’s sustainable growth and prosperity.
The proposal to introduce new regulations for trade licenses was discussed during the inaugural 2024 Economic Integration Committee meeting on Wednesday chaired by Minister of Economy, Abdulla bin Touq Al Marri.
The participants discussed enhancing economic initiatives and fostering collaboration. It was also discussed at length to introduce fresh regulations for trade and business activities in the country, including issuing a five-year silver license and a 10-year golden license, both priced competitively.
These measures are in line with the goals set by the government as part of its “We are the UAE 2031” vision, Gulf News reported.
It bears mentioning that the government of the United Arab Emirates is introducing multiple measures to diversify its revenue stream and to attract top talent from across the world. UAE’s Golden Visa is already amongst the most sought-after visas in the world and dozens of celebrities have already acquired such visas.
If the silver and golden business licenses are approved in subsequent discussions, the business community would find it appropriate to acquire such visas and set up business in the emirate.
